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February 15, 2018 - Industry News

New York Fed: Credit Scores Rise as Household Debt Reaches New Peak

Credit scores in the fourth quarter of 2017 were only a half a point higher than the median score recorded during the first quarter of 2009. And according to the Federal Reserve Bank of New York, 2017 auto loan origination volume reached the highest level it has ever observed.

Tags: auto finance, delinquencies, Federal Reserve Bank of New York, Great Recession, origination volume

February 15, 2018 - Industry News

FordDirect Dealers Get CarStory Access

A new partnership with CarStory gives Ford and Lincoln dealers who own FordDirect websites access to CarStory’s AI- and analytics-based market reports.

February 15, 2018 - Industry News

ACV Becomes NIADA Partner

ACV Auctions has become a national corporate partner of the National Independent Automobile Dealers Association, giving member dealers access to ACV’s inventory management platform.

February 14, 2018 - Industry News

EFG: Digital Retailing, Online F&I Increasing Data Security Risks for Dealers

John Pappanastos, CEO and President of EFG Companies

The F&I product provider issues a call to action to dealers, finance sources and its partners, warning that data security is one of the largest areas of concern in 2018.

Tags: breach, data security, digital retailing, EFG Companies, online F&I, technology

February 14, 2018 - Industry News

Cox Promotes Williams to VP of Logistics

Cox Automotive has promoted Jim Williams to senior vice president of logistics, joining the company’s Inventory Solutions team.

February 13, 2018 - Industry News

BB&T Switches Back to Markups as CFPB Shifts Away From Enforcement

BB&T Tower in Atlanta (Wikimedia Commons and seniorliving.org)

BB&T announced its move about a week after the CFPB’s acting director stripped enforcement powers from the division responsible for pursuing discrimination cases in the auto finance arena. BB&T will officially make the switch on March 14.

Tags: auto finance, BB&T, CFPB, compliance, dealer participation, Mick Mulvaney

February 13, 2018 - Industry News

Autosoft Partners With NIADA

NIADA members can enjoy special pricing on Autosoft’s DMS offerings as part of a new partnership between the association and the software provider.

February 13, 2018 - Industry News

SmartAuction Adds Off-Lease Nissan, Infiniti Units

Registered dealers can now use Ally’s SmartAuction to access listings of off-lease vehicles from Nissan Motor Acceptance Corp. and Infiniti Financial Services.

February 12, 2018 - Industry News

Hyundai, Acura Take Top Honors in KBB’s ‘5-Year Cost to Own’ Awards

The firm named Hyundai as the brand with the lowest cost to own and Acura as the lowest cost luxury brand. Top vehicles were selected in 22 categories.

Tags: Acura, Cost to Own, General Motors, Hyundai, Kelley Blue Book, Toyota

February 12, 2018 - Industry News

AUL Surpasses Two Million Contracts Issued

The company achieved its milestone in a third of the time it took to reach one million policies issued, which AUL did in 2011. Officials said 2017 was the vehicle service contract provider’s best performing year since its founding in 1990.

Tags: AUL Corp., F&I products, milestone, vehicle service contracts

February 12, 2018 - Industry News

GWC Warranty Earns Two Workplace Recognition Awards

The F&I product provider was named to the National Association of Business Resources’ ‘101 Best and Brightest Companies to Work for” and the Wilkes-Barre Times Leader’s ‘Northeastern Pennsylvania Best Places to Work” lists.

Tags: Best Places to Work, F&I products, GWC Warranty Corporation, vehicle service contract

February 8, 2018 - Industry News

Manheim: Wholesale Prices Decline for Third Straight Month

Despite a 4.9% increase from a year ago, the Manheim Used Vehicle Value Index’s January reading was the lowest since last July.

February 8, 2018 - Industry News

Jumpstart: Kia, Lexus, Jeep See Highest Traffic Lifts During Super Bowl LII

Out of the three, Kia's Stinger spot featuring Steven Tyler generated the greatest lift in interest across Jumpstart Automotive's portfolio of publishers.

Tags: Jeep, Jumpstart Automotive, Kia Motors America, Kia Stinger, Lexus, Super Bowl

February 8, 2018 - Industry News

Carvoy Launches New Leasing Platform

Photo courtesy of CarVoy 

Carvoy Ignite was designed to benefit dealers and customers by facilitating the sale of new-vehicle leases online.

Tags: CarVoy, Online Marketplace, Online Shopping

February 7, 2018 - Industry News

Xtime: Mobile Appointments Up 56% in 2017

Proprietary data released by Xtime shows dealership customers are booking appointments online at a furious pace, typically on mobile devices and often outside business hours.

February 7, 2018 - Industry News

Black Book: Index Falls 1.2% to 113.1 in January

The firm had expected a steeper decline due to replacement activity linked to last year’s hurricanes. Instead, Black Book saw fairly typical depreciation.

Tags: Black Book, Hurricane Harvey, Hurricane Irma, used-vehicle values, vehicle depreciation

February 7, 2018 - Industry News

Black Book: Start of Tax Seasons Brings Low Depreciation, Strong Auction Sales

The beginning of tax season saw stronger sales at auction, especially for mainstream car segments. Mid-size cars led the way in terms of value retention in the car segment, while minivans, full-size vans and small pickups saw no change last week.

Tags: Black Book, tax season, used-vehicle values, vehicle depreciation

February 7, 2018 - Industry News

Pearl Launches Rapid Proactive Messaging

Rapid Proactive Messaging is a new system designed to allow dealership sales associates to connect and communicate directly with interested customers from their mobile phones.

February 6, 2018 - Industry News

Tesla vs. Firetruck: Feds to Investigate Latest Incident

Tesla’s ‘Autopilot’ setting has once again drawn interest from regulators after a Model S plowed into a parked firetruck.

February 6, 2018 - Industry News

AIADA: International Brands Made Gains in January

International nameplates outpaced the competition in U.S. new-vehicle sales last month, accounting for 57.4% of all transactions.

February 6, 2018 - Industry News

Cox Ranks Super Bowl Car Commercials

Data collected by Kelley Blue Book and Dealer.com shows which factories and brands benefited from their significant investments in Super Bowl airtime.

February 5, 2018 - Industry News

DealerFenix Introduces Dealer Reporting, Workflow and Activity Solution

DealerFenix is a new system designed to improve process adherence and consistency, eliminate repetitive tasks, and automate activities.

February 1, 2018 - Industry News

KBB: New-Car Prices Up 3.9% in January

The average transaction price for a new light vehicle sold in the U.S. was $36,270, down slightly from December but up 3.9% from the year-ago period.

February 1, 2018 - Industry News

Genesis to Establish U.S. Dealer Network

Photo courtesy of Genesis Motor America.

According to the company, certain dealers who are parties to the Genesis Participation Agreement (GPA) and operate in “defined key markets” will be given first opportunity to apply for the Genesis franchise.

Tags: Dealer Network, facility upgrades, Genesis, Hyundai

January 31, 2018 - Industry News

Appeals Court Rules CFPB Structure Is Constitutional

Photo courtesy of Flickr user Ted Eytan

On Wednesday, the D.C. Court of Appeals ruled 7-3 that a provision in the Dodd-Frank Act that says the CFPB director can only be removed for cause does not unconstitutionally constrain the president.

Tags: CFPB, compliance, Leandra English, Mick Mulvaney

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